GBT Reports First Quarter 2018 Results
Published: May 10, 2018
MONTEVIDEO, Uruguay, May 10, 2018 /PRNewswire/ -- Biotoscana Investments S.A. (B3: GBIO33), a biopharmaceutical group that operates in Latin America, announced today its results for the 1Q18.
Gross revenues for 1Q18 grew 10% in constant currency, marking BRL 927M LTM.
Net revenues for 1Q18 increased by 9% in constant currency, marking BRL820M LTM. 1Q18 grew 12% pro-forma in constant currency (including bids for which we got a purchase order in 1Q18 but we expect to delivery in 2Q18).
Gross profit up 18% in 1Q18, in constant currency. Gross margin of 56% (up ~351bps from 1Q17), continuing the improvement trend of prior quarters.
Adjusted EBITDA increased by 20% in constant currency vs. 1Q17. Adjusted EBITDA margin came to 25% in 1Q18, improving 172bps vs. 1Q17, marking BRL 203M LTM compared to BRL187M in 1Q17 LTM.
Adjusted net income up 41% from 1Q17, reaching BRL 22M in 1Q18.
Halaven and Abraxane off to a strong start. Lenvima launching ahead of schedule and improving clinical profile. Cresemba attained orphan status in Brazil and Mexico.
Extended partnership with Gilead into the Andean region, with revenues starting in 2Q18.
SOURCE Grupo Biotoscana